INTERVIEW QUESTIONS MARKETING MARKETING MANAGEMENT DETAILS

Question: Explain the approaches to marketing.

Answer: 1.Commodity Approach or Product Approach:Under this approach, the flow of goods from the producers to the consumers is studied. In this study, emphasis is given to production center, involvement of men in selling and purchasing of the products, means of transportation, problems in sale and advertisement of goods, problems in financing, storing and other related matters.
2. Functional Approach:Functional approach of marketing indicates the study of the functions of marketing. Whatever function the marketing performs is called marketing as a whole. Marketing performs exchange function, physical distribution function and other auxiliary functions. The study of these functions is marketing.
3.Institutional Approach:Institutional approach of marketing emphasis to the study of marketing institutions and agencies. Wholesalers, importers, transporters, exporters, business agents, transport organization, banks, insurance companies, finance companies etc. play their roles in marketing by supplying or distributing commodities from producers to the consumers.
4.Environmental Approach:According to environmental approach, environment affects marketing. So, marketing should be made suitable to the environment by studying and scanning the environment. Environment always becomes dynamic. It changes continuously . So, it also appears both as an opportunity and as a challenge.
5. Legal Approach:Legal approach advocates that marketing should be regularized by laws. All the marketing activities should agree with and remain under control of legal provisions. Acts, rules and regulations, policy, procedure, working process etc. are included in Law.
6.System Approach:System approach of marketing supposes marketing as a system which includes input, processing, output and feedback. Goods, price, place and promotion are included in input of this system.

1.Commodity Approach or Product Approach:Under this approach, the flow of goods from the producers to the consumers is studied. In this study, emphasis is given to production center, involvement of men in selling and purchasing of the products, means of transportation, problems in sale and advertisement of goods, problems in financing, storing and other related matters.
2. Functional Approach:Functional approach of marketing indicates the study of the functions of marketing. Whatever function the marketing performs is called marketing as a whole. Marketing performs exchange function, physical distribution function and other auxiliary functions. The study of these functions is marketing.
3.Institutional Approach:Institutional approach of marketing emphasis to the study of marketing institutions and agencies. Wholesalers, importers, transporters, exporters, business agents, transport organization, banks, insurance companies, finance companies etc. play their roles in marketing by supplying or distributing commodities from producers to the consumers.
4.Environmental Approach:According to environmental approach, environment affects marketing. So, marketing should be made suitable to the environment by studying and scanning the environment. Environment always becomes dynamic. It changes continuously . So, it also appears both as an opportunity and as a challenge.
5. Legal Approach:Legal approach advocates that marketing should be regularized by laws. All the marketing activities should agree with and remain under control of legal provisions. Acts, rules and regulations, policy, procedure, working process etc. are included in Law.
6.System Approach:System approach of marketing supposes marketing as a system which includes input, processing, output and feedback. Goods, price, place and promotion are included in input of this system. Source: CoolInterview.com

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